Rundle Corporation operates three investment centers. The following financial statements apply to the investment center named Bowman Division. BOWMAN DIVISION Income Statement For the Year Ended December 31, Year 2 Sales revenue $ 107, 180 Cost of goods sold 60, 175 Gross margin 47, 005 Operating expenses Selling expenses (2,670) Depreciation expense (4,175) Operating income 40, 160 Nonoperating item Loss on sale of land (3,100) Net income $ 37, 060 BOWMAN DIVISION Balance Sheet As of December 31, Year 2 Assets Cash $ 12, 562 Accounts receivable 40, 346 Merchandise inventory 36, 500 Equipment less accumulated depreciation 90, 408 Nonoperating assets 9,400 Total assets $ 189, 216BOWMAN DIVISION Balance Sheet As of December 31, Year 2 Assets Cash $ 12, 562 Accounts receivable 40, 346 Merchandise inventory 36, 500 Equipment less accumulated depreciation 90, 408 Nonoperating assets 9 , 400 Total assets $ 189, 216 Liabilities Accounts payable $ 9, 627 Notes payable 71, 000 Stockholders' equity Common stock 75,000 Retained earnings 33, 589 Total liabilities and stockholders equity $ 189, 216 Required c. Calculate the ROI for Bowman. d. Rundle has a desired ROI of 12 percent. Headquarters has $92,000 of funds to assign to its investment centers. The manager of the Bowman Division has an opportunity to invest the funds at an ROI of 14 percent. The other two divisions have investment opportunities that yield only 13 percent. Calculate the new ROI for Bowman division, if the investment opportunity is adopted by Bowman. e. Based on the original data, calculate the original residual income. Also, calculate the new residual income based on informationComplete this question by entering your answers in the tabs below. Required C Required D Required E Calculate the ROI for Bowman. Note: Round your percentage answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45). ROI %Complete this question by entering your answers in the tabs below. Required C Required D Required E Rundle has a desired ROI of 12 percent. Headquarters has $92,000 of funds to assign to its investment centers. The manager of the Bowman Division has an opportunity to invest the funds at an ROI of 14 percent. The other two divisions have investment opportunities that yield only 13 percent. Calculate the new ROI for Bowman division, if the investment opportunity is adopted by Bowman. Note: Round your percentage answer to 2 decimal places. (i.e., 0.2345 should be entered as 23.45). Show less A New ROI %Complete this question by entering your answers in the tabs below. Required C Required D Required E Based on the original data, calculate the original residual income. Also, calculate the new residual income based on information provided in Requirement d. Note: Round your final answers to nearest whole dollar. Original residual income New residual income